Alibaba Group Generated US$8 Billion in GMV with a Few Hours Left of 11.11 Shopping Festival
Alibaba Group Holding Limited (NYSE:BABA) today announced that US$8 billion GMV (approximately RMB 48.9 billion) was settled through Alipay on Alibaba’s China and international retail marketplaces by 8:43 pm Hangzhou time on November 11. Of the US$8 billion, mobile GMV settled through Alipay accounted for 42.9%.1
Additional highlights include:
- At 11:49 a.m. Hangzhou time, total GMV settled through Alipay exceeded 2013 desktop online sales from Thanksgiving through Cyber Monday, or $5.29 billion.2
- At 1:31 p.m. Hangzhou time, total GMV settled through Alipay surpassed 2013 total GMV settled through Alipay of RMB 36.2 billion (US$5.8 billion).
- At 5:10 p.m. Hangzhou time, more than 200 million logistics orders were placed.
- At 7:25 p.m. Hangzhou time, mobile GMV settled through Alipay exceeded RMB 20 billion (approximately US$3.27 billion).
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company is the largest online and mobile commerce company in the world in terms of gross merchandise volume. Founded in 1999, the company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with hundreds of millions of consumers and other businesses.
Alibaba Group’s major businesses include:
- Taobao Marketplace (www.taobao.com), China’s largest online shopping destination
- Tmall.com (www.tmall.com), China’s largest third-party platform for brands and retailers
- Juhuasuan (www.juhuasuan.com), China’s most popular online group buying marketplace
- Alitrip (www.alitrip.com), a leading online travel booking platform
- AliExpress (www.aliexpress.com), a global online marketplace for consumers to buy directly from China
- Alibaba.com (www.alibaba.com), China’s largest global online wholesale platform for small businesses
- 1688.com (www.1688.com), a leading online wholesale marketplace in China
- Alibaba Cloud Computing (www.aliyun.com), a provider of cloud computing services to businesses and entrepreneurs
Alibaba Group also provides payment and/or escrow services on its marketplaces through its contractual arrangements with Ant Financial Services Group, a related company of Alibaba Group that operates Alipay (www.alipay.com).
Through China Smart Logistics (or Zhejiang Cainiao Supply Chain Management Co., Ltd.), a 48%-owned affiliate, Alibaba Group operates a central logistics information system that connects a network of express delivery companies in China.
1 All 2014 11.11 GMV figures are subject to final auditing following conclusion of the event.
2 comScore e-Commerce Measurement, 2013 Holiday Season Desktop e-Commerce Spending.
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